Public Storage

Real Estate Self-Storage REITs Glendale, California Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$4.8B
                    3y CAGR +4.9%
                    
                    P28
                    
                    +2.7%
                    
                    Net income
                    FY2025
                
$1.8B
                    Net margin +37.0%
                    
                    P79
                    
                    -13.9%
                    
                    Total assets
                    FY2025
                
$20.2B
                    ROA +8.8%
                    
                    P94
                    
                    +2.3%
                    
                    Operating cash flow
                    FY2025
                
$3.2B
                    FCF margin +53.6%
                    
                    P93
                    
                    +1.9%

19 yrs · FY2007–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

15 accounts · 10 years

Total assets $20.2B

Total liabilities $10.9B

Shareholders equity $9.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	-28.9%	+20.9%	-52.3%	+5.5%	+185.2%	-37.1%	+13.4%	-16.7%	+135.9%	—
Real Estate	+2.4%	-0.1%	+14.6%	+4.8%	+47.1%	+6.1%	+3.9%	+2.3%	+3.4%	—
Other Noncurrent Assets	+14.7%	-10.0%	+42.4%	-44.8%	+16.4%	+0.2%	+2.1%	+5.2%	+4.4%	—
Total Assets	+2.3%	-0.3%	+12.9%	+1.0%	+47.1%	+4.0%	+4.0%	+1.8%	+5.9%	—
Liabilities
Long Term Debt	+9.6%	+2.7%	+32.5%	-8.1%	+193.7%	+33.8%	+34.7%	-1.3%	+266.3%	—
Other Noncurrent Liabilities	+4.2%	-1.8%	+16.4%	+6.8%	-30.6%	+81.2%	+3.2%	+10.1%	+13.2%	—
Total Liabilities	+9.3%	+2.5%	+31.4%	-7.2%	+145.6%	+41.7%	+28.2%	+0.8%	+156.8%	—
Equity
Total Stockholders Equity	-4.8%	-3.0%	-0.6%	+7.9%	+9.1%	-5.6%	-0.6%	+2.0%	-5.0%	—
Preferred Stock	+0.0%	+0.0%	+0.0%	+6.1%	+8.1%	-6.7%	+1.0%	+0.0%	-7.8%	—
Common Stock	+0.1%	-0.1%	+0.2%	+0.1%	+0.3%	+0.1%	+0.2%	+0.2%	+0.3%	—
Additional Paid In Capital	+0.5%	+2.3%	+1.4%	+1.3%	+2.0%	-0.1%	-0.1%	+1.2%	+0.7%	—
Retained Earnings	-74.4%	-160.9%	-143.0%	+80.0%	+39.8%	-37.4%	-15.3%	+14.6%	-38.6%	—
Accumulated Other Comprehensive Income	+33.6%	-7.0%	+16.3%	-49.9%	-23.5%	+33.1%	-1.3%	+14.7%	+21.1%	—
Noncontrolling Interest	-7.3%	+7.8%	+0.4%	+364.4%	+11.5%	+7.6%	-33.6%	+3.7%	-18.1%	—
Total Liabilitiesand Equity	+2.3%	-0.3%	+12.9%	+1.0%	+47.1%	+4.0%	+4.0%	+1.8%	+5.9%	—

Income Statement

Revenue, expense, and profitability

12 accounts · 10 years

Revenue $4.8B

Operating income Not reported

Net income $1.8B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+2.7%	+3.9%	+8.0%	+22.4%	+17.2%	+2.1%	+3.5%	+3.4%	+4.2%	—
Expenses Depreciation and Amortization	+2.0%	+16.5%	+9.2%	+24.5%	+29.0%	+7.9%	+6.1%	+6.4%	—	—
Expenses Selling,General and Administrative	+0.0%	+32.3%	+12.5%	-5.7%	-8.7%	+33.9%	-40.7%	+26.3%	-0.9%	—
Other Income Expense Interest Expense	+5.9%	+42.9%	+47.5%	+50.2%	+61.3%	+23.3%	+40.3%	+156.4%	+201.4%	—
Other Income Expense Other Income/expense	-192.0%	+230.7%	-97.7%	+557.6%	—	—	—	—	—	—
Other Income Expense Income Before Tax	-14.3%	-3.8%	-50.4%	+122.1%	—	—	—	—	—	—
Income Tax Income Tax Expense	-254.8%	-56.9%	-24.5%	+15.5%	—	—	—	—	—	—
net Income Other Items Below Tax	+0.1%	-0.2%	+5.6%	+1.4%	+11.4%	-28.8%	-432.0%	+125.1%	-0.5%	—
net Income net Income	-13.9%	-3.6%	-50.6%	+122.7%	+43.9%	-10.7%	-11.1%	+18.6%	-0.8%	—
Earnings Per Share Basic Eps	-15.4%	-3.9%	-53.0%	+138.5%	+57.6%	-13.8%	-14.7%	+26.8%	-1.3%	—
Earnings Per Share Diluted Eps	-15.3%	-3.8%	-52.9%	+138.1%	+56.9%	-13.7%	-14.6%	+26.9%	-1.2%	—
Earnings Per Share Weighted Average Shares Diluted	-0.1%	-0.1%	-0.1%	+0.4%	+0.5%	+0.1%	+0.1%	+0.1%	+0.2%	—

Cash Flow Statement

Operating, investing, and financing flows

15 accounts · 10 years

Operating cash flow $3.2B

Investing cash flow $-1.7B

Financing cash flow $-1.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Cash From Operating Activities	+1.9%	-3.6%	+4.2%	+22.6%	+24.5%	-1.2%	+0.2%	+4.6%	+1.4%	—
Operating Activities net Income	-13.8%	-3.5%	-50.5%	+122.8%	+44.0%	-10.8%	-11.2%	+18.6%	-0.8%	—
Operating Activities Depreciation and Amortization	+2.0%	+16.5%	+9.2%	+24.5%	—	—	+6.1%	+6.4%	+4.9%	—
Operating Activities Stock Based Compensation	-10.8%	+7.7%	-26.7%	-5.2%	+79.3%	+29.1%	-63.1%	+86.3%	+0.2%	—
Operating Activities Other Non Cash Items	+251.3%	-274.4%	+103.4%	-1058.8%	-206.9%	+119.6%	+138.9%	-457.4%	+311.1%	—
Investing Activities Capital Expenditures	+19.7%	+75.1%	-288.4%	-40.0%	+52.1%	-26.6%	-37.4%	+9.8%	-109.0%	—
Investing Activities Other Investing Activities	-1290.0%	+119.0%	-102.3%	+7301.9%	+5.5%	+174.1%	-91.5%	+5143.5%	-104.2%	—
Investing Activities net Cash From Investing Activities	-68.1%	+71.7%	-415.9%	+120.1%	-397.8%	-24.6%	-73.9%	+30.0%	-5.4%	—
Financing Activities Proceeds From Debt	+17.8%	-47.2%	—	-100.0%	+824.3%	+9.7%	—	—	+773.2%	—
Financing Activities Repayment of Debt	+19.4%	-9689.4%	+98.4%	-23051.3%	-9.8%	-5.2%	-7.6%	-4.9%	+95.3%	—
Financing Activities Dividends Paid	-0.6%	+0.1%	+41.2%	-147.1%	+1.0%	+0.2%	+0.3%	+1.1%	-8.2%	—
Financing Activities Repurchase of Common Stock	+100.0%	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	-104.7%	+183.1%	-87.1%	+361.3%	+908.4%	-2298.6%	-115.5%	+100.6%	-220.0%	—
Financing Activities net Cash From Financing Activities	+21.5%	-1740.6%	+97.3%	-219.9%	+425.2%	+4.0%	+30.8%	-63.2%	+13.6%	—
Cash Reconciliation net Change In Cash	-374.9%	+111.6%	-1022.7%	-90.8%	+417.1%	-404.7%	+168.8%	-129.6%	+151.0%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Net margin	+37.0%	+44.1%	+47.6%	+104.0%	+57.2%	+46.6%	+53.3%	+62.0%	+54.0%	+56.8%
FCF margin	+53.6%	+50.7%	+5.4%	+56.0%	+58.3%	+30.6%	+40.6%	+50.8%	+46.4%	+62.3%
Growth
Revenue CAGR (3y)	+4.9%	+11.2%	+15.7%	+13.6%	+7.4%	+3.0%	+3.7%	+5.0%	+7.0%	+9.2%
Returns
ROE	+19.3%	+21.3%	+21.5%	+43.2%	+20.9%	+15.9%	+16.8%	+18.8%	+16.1%	+15.4%
ROA	+8.8%	+10.5%	+10.8%	+24.8%	+11.2%	+11.5%	+13.4%	+15.7%	+13.4%	+14.3%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	—	—	—	—	—	—	—	—	—	—
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	1.18x	1.02x	0.97x	0.73x	0.85x	0.38x	0.25x	0.20x	0.20x	0.07x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	0.24x	0.24x	0.23x	0.24x	0.20x	0.25x	0.25x	0.25x	0.25x	0.25x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

Valuation

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FY2025 fundamentals · no price

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Public Storage

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